Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0479%/8h= +52.5% APRpaid last 24h +0.144%

Price spread now: BloFin against Reya−0.119%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Reya Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. BloFin is 0.119% cheaper against Reya than usual: you would sell low and buy high (spread −0.119% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 20 hours of funding at the current rate (+$14 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya VIRTUALRUSDPERP	0.7204	−0.0139	get 0.0017% / 1h	22m 32s	$24	—	10x
Short	BloFin VIRTUAL-USDT	0.7195	0.0340	get 0.0170% / 4h	1h 22m	$807K	$801K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Reya. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ReyabpFee BloFinbpOrdersPrice spread, now −0.119%Rate

Funding earned: $100.63
Price spread: −0.119% → 0.000%: −$11.92
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee BloFin: 6 bp × 2 orders: −$12
Net: $70.71
Costs to cover: 0.180%
Break-even: 2.1 days

Slippage unknown: Reya: no order-book sample; BloFin: live order book, 59 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Reya no order-book sample	—	—	—	—	—
Sell BloFin live order book, 59 min ago	2.78 bp	11.0 bp −$11	18.6 bp −$186	60.2 bp −$6,022	doesn't fit

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

VIRTUAL on 33 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya VIRTUALRUSDPERPlong	−0.0139%	1h	0.7204	long leg	$24	—	10x
Lighter VIRTUAL	−0.0128%	1h	0.7201	−0.032%	$328K	$414K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0120%	1h	0.7209	+0.075%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0045%	1h	0.7181	−0.311%	$11K	$40K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7202	−0.022%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7205	+0.015%	$13K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.202%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0092%	4h	0.7200	−0.050%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7218	+0.200%	$8.8M	$3.8M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7212	+0.113%	$197K	$84K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7209	+0.081%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7211	+0.104%	$16.4M	$37.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7208	+0.061%	$15.6M	$15.8M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7210	+0.089%	$2.8M	$9.2M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7211	+0.103%	$1.5M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7202	−0.022%	$17.3M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7208	+0.061%	$4.3M	$4.1M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7217	+0.186%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7211	+0.103%	—	$8.0M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7205	+0.020%	$239K	$159K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7170	−0.472%	$525K	$877K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7189	−0.207%	$19K	$256K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7205	+0.014%	$638K	$918K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7192	−0.161%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7213	+0.126%	$30K	$880K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7200	−0.050%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7201	−0.040%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7210	+0.084%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7201	−0.036%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0298% / S −0.0228%	1h	0.7206	+0.028%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDTshort	+0.0340%	4h	0.7195	−0.119%	$807K	$801K	75x
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7215	+0.158%	$196K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0508%	1h	0.7214	+0.143%	$586K	$596K	50x	as long as short